Canadian Forex Midday: C$ strengthens

By Commodity News Service Canada

Winnipeg, September 16 – The Canadian dollar was stronger against
its US counterpart at midday Monday, underpinned by news that former US
Treasury Secretary Lawrence Summers has withdrawn from the race to
replace US Federal Reserve Chairman Ben Bernanke when he departs,
industry watchers said.
Statistics Canada reported that foreign investors purchased C$6.1
billion of Canadian securities in July, after a C$15.4 billion
divestment in June, leading to further gains.
Gains seen in commodities, including gold and copper, added to the
loonie’s bullish tone.
At 11:43 CDT Monday, the Canadian dollar was trading at US$0.9689
or US$1.0320, which compares with Friday’s North American close of
US$0.9665, or US$=$1.0347.
At 11:43 CDT Monday, the Toronto Stock Exchange was up 110.92
points to sit at 12,834.32.